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Local News
Marubeni Donates US$8,000 To Islamic Home
The Islamic Home for Children has received a financial boost as a result of a donation from Marubeni Power International Inc. The donation has been made as the Home moves ahead with a series of future-focused initiatives to enhance its self-sufficiency and improve opportunities for the at-risk youth in its community.
Buyer Has Big Plans For Trincity Mall
John Aboud, the primary investor in the consortium that purchased Trincity Mall last week, says the goal is to upgrade the mall and develop the surrounding land to create a vibrant ecosystem.
Angostura $33M Q1 PBT
Angostura Holdings Limited recorded a strong performance for the first quarter of 2025. Revenue for Ql 2025 increased by $33 million or 17% to $221 million when compared to Q1 2024 and Profit Before Tax (PBT) for the reported period increased by 11% over the comparative period last year to $33 million.
Lotto Agents Want Answers On NLCB
What are your plans for increasing the revenue stream of the National Lotteries Control Board (NLCB) and on improving working conditions and alleviating the stress and problems facing agents?
CAL Adds More Flights To Miami
Starting June 19, Caribbean Airlines is adding extra flights between Trinidad and Miami on Thursdays and Sundays, which it says are perfect for planning weekend getaways.
T&T Needs To Reimagine Its Economic Model
With the US government revoking the licences for the Dragon gas project, developmental economist Dr Marlene Attzs is strongly advising that rather than simply mourn the loss of the initiative, T&T must use this moment to rethink its economic future.
T&T To Launch New Global T&T Agency
Trinidad and Tobago will soon have a new Global T&T Agency (formerly Export T&T) aimed at boosting investment and driving exports, according to Trade and Industry Minister Paula Gopee-Scoon.
Touchstone Set To Downsize Board
John D Wright retired yesterday as chairman of Touchstone Exploration with immediate effect, as the board announced plans to reduce its size from eight to six members in two months’ time.
Wage Negotiation Could Cost Taxpayers Billions
Proposals being made in the public ‘not by this Government’ to commence public sector wage negotiations at a 10% rate could cause taxpayers billions. So said Finance Minister Vishnu Dhanpaul while speaking yesterday at the Trinidad and Tobago Manufacturers’ Association (TTMA) leadership discussions and networking event at the Hyatt Regency (Trinidad), Wrightson Road, Port of Spain.
Regional News
Women’s Haven Announces Price Hike
Caribbean-based wellness brand Women’s Haven® has announced upcoming price increases and potential product discontinuations due to surging US tariffs, marking one of the first visible effects of the ongoing global trade tensions on small regional businesses.
Jamaica Edges Closer To Logistics Hub Vision
Jamaica is taking decisive steps toward realising its long-touted ambition of becoming the fourth global logistics hub, with Prime Minister Andrew Holness announcing a wave of new infrastructure developments, including the long-awaited Caymanas Special Economic Zone (SEZ).
Guyana, UK, Sign Agreement To Strengthen Defense
The Guyana Defence Force (GDF) and the Ministry of Defence of the United Kingdom have signed a Memorandum of Understanding (MoU) to enhance bilateral defence cooperation, marking a significant step in strengthening military ties between the two nations.
Montserrat Finance Ministry Tops EC$311M Budget Allocation
The Ministry of Finance and Economic Management has secured the lion’s share of Montserrat’s 2025/26 budget, with an allocation of EC$82.49 million out of the total EC$311.78 million budget unveiled by the government.
Jamaica: SunTerra Secures US$60M Financing
Renewables company SunTerra Energy Jamaica Limited has secured financing from Rosh Development to execute its 50 megawatt (MW) Midnight Sun project to be built on more than 200 acres of land in Duncans, Trelawny.
Guyana: $10B One-Off Payout For Senior Citizens
President, Dr Irfaan Ali on Thursday announced a mammoth $10 billion one-off payout for senior citizens who would have contributed to the National Insurance Scheme (NIS) but do not have enough to qualify for pensions.
St Kitts Revokes 13 CBI Citizens
The St. Kitts-Nevis government says it has revoked the citizenship of 13 people and their dependents as part of the “decisive actions” taken to preserve the Citizenship by Investment (CBI) Programme through which foreign investors are granted citizenship of the twin island Federation in return for making a significant contribution to the socio-economic development of the country.
NCBFG Misses Q1 Dividend
NCB Financial Group Ltd (NCBFG) failed to declare a dividend for its first quarter that ended December 31, 2024, despite indicating that it would hold a special board meeting during its second quarter, which ended on March 31, 2025, to consider the dividend payment.
Jamaica Eyes Strategic Path Through US-China Tariff Storm
Minister of Industry, Investment and Commerce, Senator Aubyn Hill, says Jamaica is strategically positioning itself to weather the escalating tariff battle between the United States and China, leveraging its geographical advantage and growing investment appeal.
International News
Morgan Stanley, Citi Cut US Earnings Estimates
Morgan Stanley (MS) and Citigroup Inc. (C) slashed their estimates for 2025 earnings as companies kick off their first-quarter reports, joining a wave of Wall Street banks warning that tariffs will curb profit growth.
Apple Takes Top Spot For Q1 Smartphone Sales
Apple (AAPL) took the top spot for global smartphone sales in the first quarter on the back of the iPhone 16e’s launch and strong demand in countries such as Japan and India, data from Counterpoint Research showed on Monday.
Goldman Sachs’ Profit Jumps As Traders Deliver Gains
Goldman Sachs reported a 15% rise in first-quarter profit as market volatility led to record revenue in equities trading and boosted fixed income results.
US Stock Futures Climb; Tech Shares Soar On Tariff Relief For Some Electronics
Wall Street futures rose on Monday and most tech stocks surged after the White House exempted smartphones and computers from new tariffs on China, although additional semiconductor levies remain on the horizon.
Morgan Stanley’s Quarterly Profit Rises As Traders Shine
Morgan Stanley’s first-quarter profit rose as its traders cashed in on market volatility that boosted client activity. The bank on Friday posted a profit of $4.3 billion, or $2.60 per share, in the three months ended March 31. That compares with a profit $3.4 billion, or $2.02 per share, a year ago.
Wells Fargo Beats Profit Estimates
Wells Fargo’s profit rose 6% in the first quarter as it collected more fees in wealth management and investment banking, but its CEO warned that U.S. tariffs risk slowing economic growth.
JPMorgan’s Profit Jumps On Record Stock Trading
JPMorgan Chase topped first-quarter profit estimates on Friday, driven by record equities trading and higher fees from debt underwriting and merger advisory.
Dollar Sinks And Gold Soars In Spiraling Trade War
The dollar tumbled on concern its status as the world’s reserve currency is being eroded as the US-China trade war intensifies. Gold soared and the euro topped a three-year high.
Amazon CEO Sets Out AI Investment Mission
Amazon chief executive Andy Jassy on Thursday justified the company’s billions of dollars in outlays for artificial intelligence development, saying the investment was necessary to remain competitive.
Reports
Offshore Series Factsheets – March 2025
Pelagic Series Factsheets – March 2025
Earnings News – March 2025
In March, Scotiabank Trinidad and Tobago Limited (SBTT) reported a TT$2 million or 1% increase in f irst-quarter profit due to strong growth in total revenue, which can be attributed to higher interest earnings from the group’s interest-bearing assets. Joining SBTT, ANSA Merchant Bank (AMBL) delivered a positive performance, recording a rise in operating income and profit for the year, despite lower before tax profits, and thanks to a reduction in taxation expenses.
US Federal Funds Target Rate – March 2025
On March 19, 2025, the Federal Open Market Committee (FOMC) announced its decision to keep the target range for the federal funds rate at 4.25% to 4.50%. However, officials at the central bank still anticipate cutting the fed funds rate 0.5%, to a range of 3.75% to 4%, by the end of 2025.
Earnings News – February 2025
In February, Massy Holdings (MASSY) grew, helped by a 6% uplift in Revenue and a 2% rise in Profit After Tax. This increase was driven by the robust performance of the Group’s various portfolios and was accompanied by an improvement in its cash position.
Earnings News – January 2025
US Federal Funds Target Rate – January 2025
On January 29th, 2025, the decision was made by the Federal Open Market Committee (FOMC) to maintain its target range for the federal funds rate at 4.25%-4.50%. This interest rate decision was informed by the Fed’s dual mandate to foster full employment and keep prices low and stable.
Local Equity Market Overview – 4Q 2024
Locally, indicators of economic activity were somewhat positive, with growth in the non-energy sector partially offsetting declines in energy sector, which faced challenges due to constraints in natural gas availability.
Earnings News – December 2024